Price Rejects Bulls as Downside Correction Extends

Twitter Facebook LinkedIn Bitcoin on Friday suffered a circa 1 percent loss against the US Dollar owing to an extended bearish correction. The BTC/USD pair is now trading at 6340-fiat, 2.70 percent down from the November’s top at 6516-fiat. The 100-period simple moving average resistance discussed in our previous analysis has fared strongly for the fourth time. The strong pullback action from that level could undoubtedly allow the price to form downside targets towards 6203-fiat, vital support in the medium-term. SOURCE: TRADINGVIEW.COM A breakout action above 100-period SMA puts sights…